JPY weakens across majors as risk sentiment improves in quiet Asia

The Japanese yen depreciated 0.4% against major currencies during Wednesday's Asian session, with USD/JPY rising to 146.80 and EUR/JPY advancing to 163.45. The yen's weakness reflects improved risk appetite as regional equities posted modest gains despite thin trading volumes. No significant economic data releases drove the move, suggesting position adjustments ahead of Thursday's Tokyo CPI data. Other major pairs remained range-bound, with EUR/USD holding steady at 1.1140 and GBP/USD consolidating near 1.3210. Technical analysis shows USD/JPY approaching the 147.00 psychological resistance, while the 146.20 level now serves as near-term support. The absence of major catalysts kept volatility subdued, with traders awaiting Friday's US PCE inflation data for directional cues. Currency strategists note the yen's correlation with risk assets remains intact despite recent Bank of Japan policy speculation.